Chit payment - reg
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2017
Find below the details of receipt from ABC Chit Funds:
Amount due 2000000 (auctioned amount)
GST 15000
Bank charges 1500
Net received 1983500
Kindly provide the accounting entries for the above transaction
Amount due 2000000 (auctioned amount)
GST 15000
Bank charges 1500
Net received 1983500
Kindly provide the accounting entries for the above transaction
05 October 2017
Cr. Chit A/c - Rs. 1983500
Cr. Bank Charges - Rs. 1500
Cr. GST A/c - Rs. 15000
Dr. Bank A/c - Rs. 200,000
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